SEC Filing Summary: BioSig Technologies, Inc.
Business Context and Reporting Period
This Form 8-K was filed by BioSig Technologies, Inc. (not Streamex Corp.) on January 5, 2018, reporting events occurring on December 29, 2017, and January 2, 2018. The company is an emerging growth company incorporated in Delaware.
Key Financial Metrics and Capital Events
- Capital Raised: The company raised $991,001 in aggregate consideration through the eleventh and twelfth closings under its Unit Purchase Agreement.
- Securities Issued: An aggregate of 660,668 units were issued to accredited investors.
- Unit Structure: Each unit consists of one share of common stock and a warrant to purchase 0.5 shares of common stock.
- Pricing: Units were sold at $1.50 per unit; warrants are exercisable at $1.50 per share.
- Historical Context: This follows ten prior closings since April 2017, raising a total of approximately $3.6 million across all closings to date.
Material Changes and Personnel Updates
- Executive Compensation: On January 2, 2018, Steve Chaussy was promoted from part-time to full-time Chief Financial Officer.
- Compensation Increase: Mr. Chaussy's annual base salary was increased from $160,000 to $235,000.
- Bonus Eligibility: He remains eligible for performance bonuses in cash or equity at the discretion of the compensation committee.
Guidance, Risks, and Contingencies
The filing does not provide forward-looking guidance, revenue projections, or specific risk factors beyond the standard disclosure that the securities were sold unregistered under Section 4(a)(2) and Regulation D. The company relies on the exemption for sales to accredited investors.
Investor Verification Checklist
- Verify the total number of outstanding shares and warrants following the issuance of 660,668 new units.
- Confirm the dilution impact of the warrant exercise price ($1.50) relative to the current market price.
- Review the company's cash burn rate to assess the runway provided by the $991,001 raised in this closing.
- Check for any subsequent filings regarding the full-time CFO's performance bonus structure.